Paper Example on Acquisition Management

2021-06-02 15:03:32
3 pages
774 words
University/College: 
Wesleyan University
Type of paper: 
Research paper
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Acquisition Management is a platform for procurement and financial services rendered to customer globally like planning acquisition, negotiation on contract, cost and price determinant. Organizations that have limited procurement authority tend to rely on acquisition management for most of its supply support (Marshall, R. 2007).

Earned value management in Acquisition field

EVM is a key in consolidating process in the administration and supervision of acquisition programs, so as to incorporate information technology projects. Hence should be a consideration for all projects, due to its contribution it has made to project contracts development and acquisition, in the success of the projects. It is recommended that EVM should be embraced in all projects undertaking in acquisition in order to help in mitigation performance risk (Marshall, R. 2007).

Due to many challenges in acquisition, Earned Volume management is essential in providing needs information than the normal project tracking approaches. It can be used to gauge where the organization needs to be in the project and when the whole process is supposed to finish. It is vital in integrating process in the management and oversight whereby EVM has the potential of taking the combined measurement of the cost, schedule and scope in a single collaborated system. It is responsible also to accurately foretell any problem that may be encountered in the project performance. EVM has a great impact when it comes to the area of planning and control, at the same time by use of methodology, its boost the performance of both scope definition and the analysis of the entire performance of the project.

Conclusion

Structured to provide three modes of delivery, either in-residence or by distance, orcombined. The ESC Lille research doctorate is suitable for practicing project managers who can take part in the program from anywhere in the world. Candidates are generally accomplished project managers, with advanced degrees, industry certications and signicant project management experience. The ESC Lille PhD combines coursework and supervised research. Coursework includes 32 credit points of advanced discipline study that is selected and tailored according to students previous formal knowledge and experience. Coursework includes instruction designed to develop research competence including epistemology, research methodology, data collection and analysis methods, survey design and case studies, statistics and data analysis as well as writing and presenting research papers. The remainder of the program is devoted to research undertaken by the candidate, usually in their workplace, or else in another PM setting if they are unable to source the research on the projects they are engaged in. Thus, the nature of research is consistent with the notion of the reective practitioner as espoused by Schon (1983). Furthermore, many of the candidates undertaking the research component follow an action learning approach in which they are active participants who help design interventions based upon their knowledge of relevant aspects of PM theory (Coghlan, 2001; Coghlan and Brannick, 2005) that they then fully participate in and make sense out of. This sensemaking (Weick, 1995) is an important facet of the research process. In the case of this research project, the prime aim was to gain knowledge into the actual and potential usage of EVM as applied to external projects under alternative contract types. Interest in EVM continues to grow both in the private and public sectors. The topic was particularly relevant and important given the ambiguity surrounding contract type when EVM is used.

Discussion and conclusions

Utilizing Pearsons product moment correlation, linear regression analysis, and lineardiscriminant analysis, this research served the purposes of: investigating the direct relationship of the principles of EVM to project success on contracted efforts; investigating any moderating effect contract type may have on the relationship; and investigating differences between groups using xed-price versus CP contract types with respect to the contribution of EVM mechanics (work-breakdown structure (WBS); sigmoid nonliner curve (S-curve); and multiple EVM efciency, variance and performance metrics) to contract formation and administration items.

The results of this research point toward the inductive assertion that EVM is an effective project management methodology. Linear correlation-regression showed a moderately strong relationship between the independent variable principles of EVM and dependent

Through practicing Earned Value Management, it is possible to stay on the budget, get the real-time approach of tracking cost and schedule that is associated with the project being undertaken, especially in the acquisition process. From the discussion, it is possible to say that EVM is essential in examining progress in every stage of the project, showing the amount of value being added to the project being undertaken hence avoiding mistakes that might come from a wrong decision or do project that adds no value.

Bibliography

Marshall, Robert. 2007, the Contribution of Earned Value Management to Project Success of Contracted Efforts. Journal of Contract Management, pp. 21-331.

 

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